Laird Norton Wealth Management and Wetherby Asset Management Merge to Create $15B National RIA & Trust Company
SEATTLE – January 10, 2022 – Laird Norton Wealth Management (LNWM) and Wetherby Asset Management (WAM) announced today that the two companies have merged. The combination establishes a national presence with offices in Seattle, San Francisco, Los Angeles and New York City. It will leverage the talents of both firms to serve clients looking for a lifelong, multi-generational advisory partner. The newly merged enterprise will manage more than $15 billion in client assets.
Kristen P. Bauer, LNWM’s CEO, will serve as CEO of the combined firms. Debra Wetherby will maintain the role of Managing Partner of WAM and serve on an expanded LNWM Board of Directors. Senior leadership teams will work together to integrate operations over time in a measured and deliberate manner to co-create a stronger organization that represents the best of both firms.
“The team at Wetherby combines a deep level of expertise with an impressive culture of caring and passion that produces outstanding results for their clients,” said Bauer. “This is a merger of independent firms who share the DNA of offering conflict-free investments and financial advice to provide clarity on important life and legacy goals. Coming together will create more value for clients than just the sum of our parts.”
“Most wealth management firms claim to serve the needs of families of multi-generational wealth, but it’s rare to find a firm that is both a trust company and an RIA that has been doing it for more than half a century with the backing and expertise of a seventh-generation family enterprise,” said WAM’s CEO Deb Wetherby. “We built WAM to be a trusted partner to our client families for generations, and there’s no better partner for our future than a firm that brings generations of experience to the table.”
The combined family and employee-owned company will retain both the Laird Norton Wealth Management and Wetherby Asset Management names and will continue to serve high and ultra-high net worth families with sophisticated investment services including impact investing, private equity and other alternative investing solutions; trust services and multi-generational estate planning; philanthropic advising; family business and real estate advisory services; and financial and tax planning.
In addition, the combination will enhance access to specialty expertise from a broader range of in-house experts. It will create an expanded platform from which to source high-quality investment opportunities and create a larger community of clients who seek an advisor to help them navigate multi-generational challenges while serving their current financial needs.
“The combination of Wetherby with Laird Norton Wealth Management is a strategic investment by the Laird Norton Company (LNC) to nurture the development of LNWM since its founding in 1967,” said Jeff Vincent, LNC CEO. “It is consistent with the vision LNC has pursued to sustain a durable and dynamic wealth management organization that puts the interests of clients first.”
“LNWM and WAM share the commitment to creating a wealth management experience that enhances the lives of our clients, our company and our communities,” said Bauer. “We’re both intentional about growth – whether that’s entering new markets or enhancing strategic offerings like impact investing – because our business is about making life better, not just the bottom line.”
“In Laird Norton, we’ve found a partner that shares our values and vision for the future, and we’re thrilled to go on this journey together,” Wetherby added.
Financial details associated with the merger were not disclosed.
About Wetherby Asset Management:
Founded in 1990, Wetherby Asset Management has spent nearly 32 years thoughtfully providing sophisticated investment advice and personal wealth planning for families and institutions with objectivity, passion and exceptional client service. Headquartered in San Francisco with offices in Los Angeles and New York, and with more than 80 employees of diverse and complementary talents, our commitment to our clients remains as strong as the day we first opened our doors. To learn more, go to www.wetherby.com.
About Laird Norton Wealth Management:
For more than five decades, Laird Norton Wealth Management has served as long-term partners for exceptional individuals, families and foundations wanting to achieve their greatest impact through their investments, legacy planning and philanthropy. As both an RIA and trust company, the firm offers the full spectrum of wealth planning, investment management, family business advisory and trust & estate services, in a deeply personal, exceptionally skillful manner that advances the aspirations and long-term financial interests of clients. Combined with Wetherby Asset Management, the firm has more than $15 billion in assets under management and the unparalleled expertise that comes with being part of a seventh-generation family enterprise. To learn more, go to lairdnortonwm.com.
About Laird Norton Company:
Headquartered in Seattle, Laird Norton Company is a seventh-generation, family-owned enterprise with significant investments in real estate and operating companies. The values of the company and its owners inform the company’s approach to business. LNC is a patient investor, seeking true long-term partnerships that align with our values and focus on community efforts. LNC is the majority owner of Laird Norton Wealth Management (LNWM), and wholly owns Laird Norton Properties, a Seattle-based real estate investment firm. Learn more at www.lairdnorton.com.
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